Posts Tagged ‘Central Bank of Nigeria’

Bank Charges on Deposits, Withdrawals, begins April 1

by Ikokwu Ikembaon March 6, 2020
The nationwide implementa-tion of the Central Bank of Nigeria (CBN)’s cashless policy on deposits and withdrawals above N500,000 will take effect nationwide from April 1. This was made known in an electronic mail message sent by the Guaranty Trust Bank to its customers yesterday. According to the message, there will be three per cent processing […]

CBN seeks recycling proposal on 100 tonnes of mutilated naira notes destroyed weekly

by Ikokwu Ikembaon February 10, 2020
The Central Bank of Nigeria (CBN) said that about 100 tonnes of bad naira notes were generated as waste and destroyed weekly through open air burning at its 12 disposal centres across the country. Meanwhile, the apex bank has commenced the process of collaboration with private firms to recycle bad naira notes instead of open […]

CBN Denies Suing Rice Farmers in Kebbi Over Unpaid Loan

by Ikokwu Ikembaon February 10, 2020
The Central Bank of Nigeria has scrambled a denial to a media report that the federal government sued many of the 70,000 rice farmers for failing to pay back N17 billion loan under the Anchor Borrowers’ Programme. The bank’s spokesperson, Isaac Okorafor, told News men on Thursday that the report that 70,000 farmers in Kebbi […]